Wunderlich Securities Reiterates NEE Estimates, Buy Rating, $60 PT

NextEra Energy, Inc. (NYSE: NEE) reported 4Q10 adjusted EPS of $0.80 versus $0.79 a year ago, Wunderlich Securities reports, noting that its own estimate was $0.85.

“However, the reported results included a write-off of $0.03 per share, leading to adjusted results of $0.83 for 4Q10,” Wunderlich Securities writes. “The weaker-than-expected results were driven by weaker wind resources in 4Q, continued weak results in Texas, and poor trading results. On a conference call to discuss the earnings, NEE management highlighted their efforts to continue earnings and cash flow growth.

“This will be led by regulated investments in Texas and Florida, and more moderate growth in renewable wind and solar resources. The outlook supports our existing estimates, Buy rating, and $60 price target.”

NextEra Energy closed Tuesday at $54.57.